2012 Tax Season deadline is extended to April 17th. The IRS will begin accepting e-file returns on January 17th. If you request an extension, your 2011 individual tax return will be due October 15th. Capital Gains and Losses New information is required to be reported on Form 1040, Schedule D, Capital Gains and Losses, and … Continued
Tax planning takes on some urgency this year, as Congress and the White House try to get a grip on the federal deficit. Max out your 401(k) Money you contribute to your plan (if it’s not a Roth) is excluded from your income, lowering your tax bill. If you’re not on track to max out … Continued
If the past few years have taught us anything, it’s that you can’t be complacent about planning for retirement and other goals. Changing markets, global issues and national events can all impact whether you’ll be able to enjoy the future you imagine. In this issue, you’ll find the information you need to take control of … Continued
A survey by Sun Life Financial, found that 92% of workers said they don’t know how much their health care will cost in retirement or vastly underestimate the amount. Forty percent said they have “no idea” what their health care costs are likely to be in retirement. Only eight percent were in the correct ballpark … Continued
Do you ever look at others and wonder how they achieved success? They probably had a plan for reaching their goals. In this issue, I’ll share tips and hints on how you can improve your personal plan to help bring your dreams more within reach. Find out how to: • Align your investing strategies with … Continued
The IRS has increased the standard mileage rates for the second half of 2011. Due to recent gasoline price increases, the rates will increase to 55.5 cents for business miles and 23.5 cents for medical or moving miles driven from July 1 through December 31, 2011. The rates for January 1 through June 30, 2011 … Continued
When someone steals identification that defines you, such as your social security, bank account, or credit card numbers, to acquire any benefits, or damage your reputation. There are many ways thieves get your information. On-line: Phishing, pharming, and spyware; A few other ways: Vishing (phone calls), skimming (compromised ATM machine). Below is some information for … Continued
Keeping and storing financial records is costly. It costs in office supplies such as boxes, folders, and filing cabinets to organize the records. It costs in rental expense for the extra room the files take up, so using services as fleet rentals is great to find the right accommodations for you. The retention period should … Continued
With the enactment of the Small Business Jobs Act of 2010, self-employed taxpayers who pay their own health insurance costs can now reduce their net earnings from self-employment by these costs. Previously, the self-employed health insurance deduction was allowed only for income tax purposes. For tax year 2010, self-employed taxpayers can also reduce their net … Continued
In general, the Small Business Health Care Tax Credit is available to small employers that pay at least half of the premiums for single health insurance coverage for their employees. It is specifically targeted to help small businesses and tax-exempt organizations that primarily employ moderate- and lower-income workers. Small businesses can claim the credit for … Continued